Friday, the latest report from the Singapore Urban Redevelopment Authority showed that the prices of private residential properties dropped 14.1% sequentially in the first quarter, following a 6.1% fall in the fourth quarter.

At the same time, prices of office properties dropped 12%, and those of shops decreased 4.2%. Prices of industrial properties were down 10.1% in the first quarter.

Meanwhile, the rentals of private residential properties dropped 8.5% in the first quarter. Moreover, rentals of office properties fell 10.7%, and those of shops and industrial properties dropped 3.3% and 5.6% respectively.

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